In your opinion what is the biggest modern day business scam of all time?

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  • Mark
    Lv 7
    8 months ago
    Favourite answer

    Probably two that are vaguely similar. One is the "pyramid scheme" popularised by Charles Ponzi, in which case only the first few people make any money. The other is the "Nigerian prince scheme".

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  • Who
    Lv 7
    8 months ago

    multi-level marketing

    Its basically a dressed up pyramid scheme with those at higher levels making money from those lower down

    the higher the level you are the more money you make - while the actual graft is done by those at the bottom

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  • 8 months ago

    The insane notion to impeach President Trump.

    • John8 months agoReport

      How is that a business scam? What business is involved in it, exactly?

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  • GA41
    Lv 7
    8 months ago

    Bitcoin   $8,315 price.  No assets behind it to give it value. Does not produce a product.  No country backing it as currency.  

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  • 8 months ago

    Business scam is tough. I mean, Madoff was HUGE from a dollar perspective, but I'd argue the "American Dream."

    The American Dream is, loosely, that everyone has the chance to earn a decent living and buy a home. Doesn't mean they'll all be rich and doesn't mean their house will be big. However, with booming populations, reductions in commerce, etc....we simply don't have as many jobs. Sure, we built the houses...but now tons are sitting empty since people cannot afford them.

    The idea was, work at a factory, make a decent wage and live in your own home. Well, we don't physically make as much these days, its made where labor is cheaper. The people with marketable skills are still using them, but those without marketable skills are stuck waiting for a new plant to open in their small town.

    The US is going to rapidly fall behind the rest of the world since our education system wasn't actually designed to teach kids...its day care so the parents can work in factories. Sure, teachers teach and do their best, but they are somewhat set up for failure. On the world stage, we all need much more education to compete...

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  • Anonymous
    8 months ago

    The US Government.

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  • 8 months ago

    Maybe not in size the biggest, but certainly the one with the most ridiculous story: The Church of Scientology. It's a mix between a pyramid scheme and a cult, really.

  • Anonymous
    8 months ago

    The Pay Day Loan joints.

    • Casey Y
      Lv 7
      8 months agoReport

      People know what they are getting when they sign up...there is no scam...other than taking advantage of desperate people.

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